Mar 21, 2022

Keyology Standardized Operating Procedures

New York State Real Property Law section 442-h requires, in part, that real estate brokers “institute

standardized operating procedures for the prerequisites prospective homebuyers must meet prior to

receiving any services.” Specifically, whether prospective clients shall show identification; whether an

exclusive broker agreement is required; and whether pre-approval for a mortgage loan is required.

Keyology Group LLC provides real estate consultation in regards to market conditions, valuation

of property, preparation for purchase of real estate, among other things. Because many of these

services are not fee or commission based, they can and, many times, do occur informally, before

or without actively purchasing real property. Therefore, Keyology’s standard procedures are that

prospective clients shall not need to show identification, exclusive broker agreements are not

required until when/if a customer chooses to become a client, and pre-approval for a mortgage is

not required until when/if a customer needs it to view or offer on real property.